Resource Junior Jumps on Mining Lease Grant

Scandium International Mining Corp. (TSE:SCY), a resource junior, surged after being granted a Mining Lease for the Nyngan Scandium Project in Australia

Sean Mason | May 5, 2017 | SmallCapPower

A ‘down under’ grant of a mining lease had more than a few speculators gravitating towards a resource junior Friday. Here’s some small stocks making big moves on Friday, May 5, 2017 (as of 4 pm EST):

Scandium International Mining Corp. (TSX: SCY) shares powered 15% higher to $0.42 on Friday after the resource junior announced that its subsidiary company, EMC Metals Australia, has been granted a Mining Lease for the Nyngan Scandium Project in New South Wales, Australia. Scandium International is focused on developing the Nyngan Scandium Project into the world’s first scandium-only producing mine.

Win Big With Our Small Cap Picks

 

As well, shares of SDX Energy Inc. (TSXV: SDX) slipped 16% to $0.92 as the oil and gas producer/explorer said drilling on the SD-1X well at its South Disouq concession in the Nile Delta area of Egypt has reached its second target depth, however there was not a sufficient amount of hydrocarbons present to justify completing this interval.

Sierra Wireless, Inc. (TSX: SW), meanwhile, reported first-quarter financial results that beat analyst expectations. Revenue for the quarter rose 13.3% to $161.8 million. Sierra is a wireless solutions provider building the Internet of Things. Its stock popped 15% to $38.97 following the announcement.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.

The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. To read more of this Disclaimer please click on the button below: